Walmart reveals its crypto ambitions by putting up a crypto job post
Walmart, the largest retailer in the US by total sales, is hiring a digital currency and crypto lead. A report unveiled this news on August 16, citing a post on the company’s career page. Reportedly, the person that takes on this role will be responsible for developing the retailer’s digital currency strategy and product roadmap.
According to the job description, the crypto lead will also have to identify technology and customer trends. On top of this, the incumbent should be able to point out the investments that Walmart can build on the aforementioned trends. The position will be in Bentonville, Arkansas.
People interested in the position must have a Bachelor’s degree in Business, Engineering, or related field and seven years of experience in Merger & Acquisitions, Investment Banking, Business Development, or related area.
While this might appear like Walmart’s first solid move into crypto, the firm previously filed a patent for a stablecoin coin similar to Facebook’s Diem, formerly known as Libra. On top of this, the retailer has dabbled in distributed ledger technology by tracking the supply chains of drugs and food.
Mainstream organizations continue showing interest in crypto
This news comes after Walmart applied for a US bank charter more than a decade ago. While these efforts were unsuccessful, the retail giant created a FinTech unit dubbed Hazel, showing the organization’s growing interests in the consumer finance sector.
While Walmart’s move into crypto might seem peculiar, it is worth noting that Amazon is also looking to venture into the nascent sector. Reportedly, the company also put up a job post, searching for a crypto and blockchain lead. According to Amazon, the person that secures this position will be responsible for developing the case for the capabilities that should be created, driving overall product vision and strategy, and gain leadership buy-in and investment for new capabilities.
An insider report also disclosed that the tech giant’s search for a crypto and blockchain lead is part of its broader plan to embrace crypto payments. Allegedly, Amazon intends to start accepting payments in a range of crypto assets, including Bitcoin (BTC/USD), Ethereum (ETH/USD), Cardano (ADA/USD), and Bitcoin Cash (BCH/USD), to mention a few.
Meanwhile, the crypto market has maintained a bullish momentum after recovering from a massive crash that saw it shed more than half of its capitalization. At the time of writing, most of the crypto market is green, with several coins registering double-digit gains.